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Powerball jackpot rises to $400 million

The jackpot for the next Powerball drawing rose to an estimated $400 million. Photo: Reuters

(Reuters) – The jackpot for the next Powerball drawing rose to an estimated $400 million dollars after no one picked all six winning numbers in Saturday night’s drawing, the Multi-State Lottery Association said on Sunday.

The next drawing will be on Wednesday night and the odds of winning the jackpot are about 1 in 175 million, the association said on its website. The jackpot is valued at $400 million if paid out in 30 annual payments, or $230.3 million in a lump sum.

The biggest single-winner Powerball jackpot of $590.5 million was claimed in June by an 84-year-old Florida woman who opted for a lump-sum payment of nearly $371 million rather than the 30-year option.

The largest jackpot in U.S. history stands at $656 million, won in the Mega Millions lottery of March 2012. That prize was split among winners in Maryland, Kansas and Illinois.